Of counsel in the bankruptcy and corporate reorganisation department, Steve Shimshak has a diverse practice (with a particular emphasis on complex bankruptcy litigation) that includes US and foreign insolvency proceedings, as well as restructurings and workouts involving debtors, creditors (including financial institutions, industry players and others), court-appointed liquidators, trustees, asset purchasers and private equity investors.

Steve was appointed a fellow of the American College of Bankruptcy in 2008 and is regularly recognised as one of the leading bankruptcy and corporate restructuring lawyers in New York by peer review organisations Chambers USA, Chambers Global, Best Lawyers in America, The Legal 500, IFLR1000, Expert Guides: Best of the Best USA and others. His work for Ericsson and Rockstar Consortium in the purchase of Nortel's US$4.5 billion patent portfolio in a bankruptcy auction was recognised as the "M&A deal of the year" by both the International Financial Law Review and The M&A Advisor, and was also "highly commended" by the Financial Times' 2012 "US Innovative Lawyers" report. Most recently, Steve was named by BTI Consulting Group as a 2015 Client Service All-Star, an award that identifies "rare, exceptional attorneys standing out above all others serving the most influential legal decision makers.”

Articles include "The Paradox of Chapter 15: Rigid, Yet Flexible", New York Law Journal (8 September 2008); "Bankruptcy Reforms and the High Net Worth Debtor", New York Law Journal (3 Mar 2008); "Are Trading Orders Unconstitutional?", New York Law Journal (30 October 2006); "Distributing a Debtor's Intellectual Property", New York Law Journal (22 November 2004); and "Revisiting Rule on Trustee Standing: In New Economy, 'Wagoner' Doctrine Takes on Added Significance", New York Law Journal (19 February 2002).

The Paul, Weiss bankruptcy and corporate reorganisation department serves as a critical adviser in almost every major, complex restructuring matter, helping companies, creditors and investors facing rapid market transformation respond to business challenges with comprehensive and innovative strategies. Diversity of matters and clients, senior-level attention and seamless delivery of multidisciplinary services distinguish the practice.